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Breakingviews: Credit Agricole upends French bank hierarchy

Thursday, March 20, 2014 - 03:04

Mar. 20 - Credit Agricole has a new plan - it will tighten its focus, and its return and payout pledges look juicier than those of rivals BNP and SocGen, says commentary unit Breakingviews.

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Pretty agriculture and the king sexier than as domestic rivals says breaking he is joining me now as George hate. I Credit Agricole is newness the fondness bank. It doesn't mean markets as -- but -- domestic economy still weak were looking more attractive compared to his now. Well I think -- to do with them. The respective banks with bad Credit Agricole BMC and so -- I'm not able and he criticism coming up with strategic plans saying this is elegant and make money in the next five years aside it's things I think about it could have -- on. If that is them a bit more. Spicy is in the the other team in the they -- they can make better. That's what this opportunity. But in sixteen schools if you can pay guys -- in past races. Today investors say both those instincts that is that soaks in -- and BNP have long been the -- most celebrated. Certainly you would think they might make quite attendance at an event today. They haven't said it happened which is which hasn't seen and daily demo vehicle in the convicted in a French bank French economy doesn't the very well at the meetings that. Then -- old -- they local problem it's it's just in Stephen -- story and -- and seeing that. -- -- nothing is well is as he says you know returning cast shareholders. Do you think that kind of -- -- can maintain the hanging ten and keep its promises pledged to do this. But technical was that a so instituted this time and they they did -- -- -- -- pre crisis was it basically he just really gave. It's created city. Falsely very. Peripheral economies. And they ended up taking stakes. And Boeing banks and then Italy Spain and and and and listen to a -- Greece plans. The scene is that. And he's so they would also troubles and possible money withdrawing heavily doing now I was fixing them on. More conservative -- and we'll see from Italy as well. Which could be -- to recover at some point so you it just looks like they've. There they focus pulled eternity and that looks more coherent than and it's why it was painful and yet maybe it. And presumably -- on -- if that happens and it's retail operations and is backed investment banking on also picks up and do it so much by some pictures of an uncle. Yes I think which is complexity it really is discredited story and you -- pencil -- -- so -- so it's almost a grave in Eastern Europe. And -- which says it isn't -- -- -- things -- moment. To Jerusalem home. My thank you very -- -- George K that some breaking these talking about why Credit Agricole might be a better pick compared to his domestic rivals BNP and so -- I'm cruising along this is --